Great Lakes Retirement Inc. Has $10.51 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

Great Lakes Retirement Inc. reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,045 shares of the financial services provider’s stock after selling 405 shares during the quarter. Charles Schwab accounts for 1.4% of Great Lakes Retirement Inc.’s portfolio, making the stock its 18th largest position. Great Lakes Retirement Inc.’s holdings in Charles Schwab were worth $10,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Exchange Traded Concepts LLC raised its holdings in Charles Schwab by 78.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 19,773 shares of the financial services provider’s stock worth $1,281,000 after purchasing an additional 8,721 shares during the last quarter. CHICAGO TRUST Co NA boosted its stake in Charles Schwab by 10.6% in the third quarter. CHICAGO TRUST Co NA now owns 3,353 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 320 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Charles Schwab by 682.4% during the 3rd quarter. Sound Income Strategies LLC now owns 1,064 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 928 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Charles Schwab by 71.6% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,820 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 2,429 shares during the last quarter. Finally, Procyon Advisors LLC boosted its position in shares of Charles Schwab by 5.4% during the third quarter. Procyon Advisors LLC now owns 3,437 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 176 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on SCHW shares. The Goldman Sachs Group lifted their target price on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Truist Financial lifted their price objective on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday. Barclays increased their target price on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. UBS Group raised their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Piper Sandler upped their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $84.56.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $83.51 on Wednesday. The stock has a 50 day moving average of $77.99 and a 200-day moving average of $71.99. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a market capitalization of $148.61 billion, a P/E ratio of 27.93, a P/E/G ratio of 1.02 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company posted $0.68 EPS. Charles Schwab’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts predict that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.29%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 33.44%.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the transaction, the insider now owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,514 shares of company stock worth $3,859,731 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.